How does the CONFIDENCE.NORM function (DAX) work?
As a type of statistical mean, the CONFIDENCE.NORM function is used to calculate and return the confidence interval for a population mean, using a normal distribution for a supplied probability and sample size.
CONFIDENCE.NORM Formula Syntax
How do you use the CONFIDENCE.NORM function?
This function is mostly used in financial data analysis to predict a wide range of financial goals. It is done by graphically mapping financial data into a set of variables.
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Considerations when using the CONFIDENCE.NORM function
This function has 3 arguments: the Alpha which is the significance level used to compute the confidence level, the Standard_dev which is the standard deviation for the data range, and the Sample Size.
If alpha ≤ 0 or alpha ≥ 1, CONFIDENCE.NORM returns the #NUM! error value.
If standard_dev ≤ 0, CONFIDENCE.NORM returns the #NUM! error value.
If size is not an integer, it is rounded.
If size < 1, CONFIDENCE.NORM returns the #NUM! error value.
If we assume alpha equals 0.05, we need to calculate the area under the standard normal curve that equals (1 – alpha), or 95 percent. This value is ± 1.96. The confidence interval is therefore:
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Formula examples using the CONFIDENCE.NORM function